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Senate approves change to bank-board residency and meeting rules
Summary
The Iowa Senate passed Senate File 413, keeping a three‑resident residency requirement for bank boards but removing the requirement that those three constitute a majority; the bill also preserves a 10‑meetings‑per‑year requirement.
The Iowa Senate on a unanimous roll call approved Senate File 413, a bill that revises state requirements for bank boards of directors and clarifies meeting requirements. The Senate voted 47‑0 to pass the measure and the title was agreed to.
Sen. Warmy, who opened debate on the bill, told the chamber the bill came from the bankers association and proposed to “maintain the requirement…
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